Essay about Tax Deductions Generate Unexpected Income
Unusual Tax Deductions Generate Unexpected Income
People have successfully claimed some pretty zany deductions, and in the interests of lightening up the dry topic of preparing taxes, we 'd like to examine the lighter side of business and tax planning by covering some of these deductions. Of course, there is a point to reviewing these wacky deductions -- you’ll get a better of idea of how the IRS applies tax law to your tax claims. You can deduct those claims that the IRS allows and even those claims that haven 't been tested in court if they 're legitimate and necessary in your business.
People want to fly under the radar with their tax strategies -- taxpayers don 't want to risk triggering an audit or getting charged with filing a frivolous tax return. However, if you have legitimate and necessary expenses to generate income, you want to take advantage of all your available deductions to ease your tax burden. Fortunately, meeting all of these seemingly mutually exclusive goals doesn 't have to be impossible. An experienced tax professional can advise you about tax court decisions for unusual or even crazy deductions -- just remember that legitimate and necessary doesn 't mean conservative and critical. If an expense helps you to generate income or to find and retain clients or makes work processes easier, it could qualify as a deduction regardless of how strange it might seem.
People have successfully claimed some pretty zany deductions, and in the…